Showbox Raises $8m funding
July 16, 2015
Showbox, the video production tool, has announced a Series A funding round of $8 million (€7.3m) from leading media executives and strategic partners including former CEO of AMEX Travel Charles Petruccelli, Chairman of IMAX Brad Wechsler, Wix co-founder Giora Kaplan, TPG Partner Karl Peterson, and more. The company has been operating in stealth mode for the last two years and will utilise the funding to continue product development and drive market penetration.
“Current video solutions are either too basic or too expensive, and geared solely towards professionals. Showbox is the only platform that makes video production accessible by creating a DIY platform that simplifies the entire production process while still offering a professional grade result,” said Effi Atad, CEO and Co-Founder of Showbox. “Individuals and businesses alike are looking for a scalable mechanism to produce creative video content, from publishers posting weekly magazines to vloggers publishing daily – Showbox answers this need.”